Fonterra plans doubling online sales

Fonterra plans to double commodity sales on its internet platform, globalDairyTrade, where it has regular independently-run auctions.

Kelvin Wickham, managing director of the globalDairyTrade operation, said they plan to increase volumes and introduce new products.

The platform sells about NZ$1 billion (US$601 million) of whole milk production annually.

The company currently sells about 10 percent of its product online - all full cream milk powder - and the expansion of internet sales will deepen the market, Wickham said.

Fonterra plans to boost this to 20 percent of its product, and is looking for other international dairy companies to join the auctions, Wickham said.